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A new organization contends nonprofits would do a better job of reducing the orphan well backlog than government bureaucracies. PHOTO SOURCE: Texas Well Protected Energy Foundation
Orphan oil and gas wells are idle wells with unknown or insolvent operators, according to the Interstate Oil and Gas Compact Commission (IOGCC). IOGCC data released in May 2020 show that there were nearly 57,000 documented orphan wells in 25 states as of 2018. Approximately 11% of those wells are in Texas.
State and federal government programs exist to fund orphan well plugging and abandonment activities, but the backlog of wells noted above puts the effectiveness of such programs into question. A new Texas-based organization has proposed shifting responsibility for plugging and abandoning orphan wells from government bureaucracies to the nonprofit sector.
The U.S. Department of Energy's Office of Fossil Energy has announced that contracts have been awarded from a recent Congressionally directed Strategic Pet.
Check out some of the most-viewed downstream-related articles on Rigzone from the past week.
A dramatic swing occurred at a major U.S. Gulf Coast port facility during the first two months of 2021. Read about it, along with other recent developments, in this review of popular downstream-related articles on Rigzone from last week.
The Louisiana Offshore Oil Port (LOOP) set a record in January in terms of loading domestic crude onto supertankers bound for ports in Asia. February was another story, however. For the first time in nearly two years, LOOP exported no crude last month, Bloomberg reported. An analyst interviewed by the news agency pointed out that crude inventories in Asia, particularly China, are high. In addition, he noted that China’s refineries are nearing their maintenance season.
The Texas Independent Producers and Royalty Owners Association has announced that it will combine with Texans for Natural Gas to strengthen statewide industry education and advocacy.
The Texas Independent Producers and Royalty Owners Association (TIPRO) has announced that it will combine with Texans for Natural Gas (TNG) to strengthen statewide industry education and advocacy.
TIPRO, which noted that it will integrate TNG into the organization’s education and advocacy platform, outlined that under its guidance, the organizations will create “the most comprehensive statewide oil and natural gas campaign in Texas”. TIPRO said this would be comprised of data, analysis, grassroots engagement, and rapid response capabilities designed to provide accurate information about the industry and its economic contributions in the state.
The havoc that the pandemic is wreaking in Brazil and Mexico is cooling demand for gasoline and diesel in two top markets for U.S. oil refiners.
(Bloomberg) The havoc that the pandemic is wreaking in Brazil and Mexico is cooling demand for gasoline and diesel in two top markets for U.S. oil refiners.
Gasoline consumption in Mexico, which takes almost six in every 10 barrels of gasoline exported by the U.S., slumped to an eight-month low in January. Diesel sales in Brazil, which had surpassed levels seen prior to the pandemic, fizzled out and are at the lowest levels seen since May.